Melbourne Cup Betting Guide

Marking its 164th occurrence in 2024, the Melbourne Cup continues to be the pinnacle of Australian horse racing. The race in 2023 was watched by 1.68 million viewers, showing a 12% growth from the previous year’s audience.

Given the widespread fascination with this race, it's no wonder that betting on the Melbourne Cup is a favorite pastime in Australia. But what betting methods dominate, and how can you efficiently place an online wager for this year's race?

This guide is your go-to for answers as we explore the different kinds of promotions and free bet opportunities associated with the Melbourne Cup.

What Is the Melbourne Cup?

Each year, the Melbourne Cup takes place as a Group 1 Thoroughbred race at Flemington Racecourse, celebrated as the world's richest two-mile handicap, with prize money hitting $8.41 million in 2023.

First held in 1861, the Melbourne Cup, hailed as 'the race that stops a nation,' is woven into the cultural fabric of both Melbourne and Australia. On November 7th, 1861, it debuted with 17 contenders vying for a prize of 710 gold sovereigns (£710).

One of the few globally renowned handicap races, the Melbourne Cup is a significant economic driver for Victoria, boosting employment, tourism, and retail sectors.

How to Bet on the Melbourne Cup

Before we dive into an in-depth analysis of the Melbourne Cup, let's discuss how to place a bet online. Here is your foolproof guide to wagering on the Melbourne Cup in 2024.

1️⃣ Choose Your Preferred Sportsbook: With so many Melbourne Cup bets and odds out there, not all sportsbooks are on the same level. That's why it's essential to Betsquare compare a variety of platforms and read our in-depth reviews to find the perfect betting site.

2️⃣ Register for an Account: To get started, register with your preferred bookmaker. You’ll need to provide some personal information like your name, DOB, and address. Secure your account with a verified email, a unique username, and a strong password.

3️⃣ Credit Your Account: Once your details and account are confirmed, make your initial deposit. Be sure it aligns with the site's minimum deposit requirements and check for any terms related to bonuses. Ensure you’re using a valid payment method as well.

4️⃣ Place Your First Bet: Now you're ready to dive into Melbourne Cup betting! Head to the horse racing section on your chosen site, explore Melbourne Cup markets, assess the odds, and craft your bet slip.

Melbourne Cup Bet Types

As we mentioned, there's a wide variety of Melbourne Cup bets and markets online. Some types are simpler and more common, while others require a bit more expertise. Below is a takeaway on the most frequently placed Melbourne Cup bets.

Win Bet	The simplest and most common bet involves picking the horse you think will triumph in the race.
Place Bet	'Place' bets require you to select a horse you believe will finish in the top three. Occasionally, promotions let you cash in if your horse finishes in the top four.
Each-Way Bet	An ‘each-way’ bet splits your stake on two outcomes: the horse winning and placing. Your stake is halved between these outcomes, raising your odds of clinching a return.
Quinella Bet	In this case, you predict which horses will finish first and second, but they can swap places. You can choose between 3 to 4 horses with this wager type.
Exacta Bet	An Exacta bet also involves choosing the top two finishers. This time, however, you must select the runners in their exact finishing order.
Trifecta Bet	Taking it a step further from the Exacta, this bet involves picking the top three Melbourne Cup finishers in the precise order.
Double Bet	The Melbourne Cup aligns with the Melbourne Cup Carnival. Hence, you can make double bets that predict winners of two different races. 'Running' doubles let you select victors from two consecutive races.
Treble Bet	Structured like a double, this wager requires you to predict the outcomes of three designated races.

Melbourne Cup Betting Tips and Strategies

Slated for Tuesday, November 5th, 2024, the Melbourne Cup sees leading sportsbooks already posting ante-post odds. Let's analyze key historic trends and betting tactics to make smart choices.

Look Beyond the Favourite

In the last 20 Carnivals, the race favorite has only won thrice (15%). Fiorente was the last to win in 2013 at Flemington, while last year, frontrunner Vauban, trained by Willie Mullins, came in 14th out of 23.

Therefore, thoroughly examining the full field before betting is crucial. Weigh how handicaps influence past performances, as favorites often face disadvantages when burdened with higher weights.

Analyse the Most Successful Trainers

Trainer success is track-specific and race-dependent. For instance, Robert Hickmott has scored two victories since 2004, including Almandin in 2016, plus three top-places in the past 20 runs.

Further solidifying his prowess, Joseph Patrick O’Brien has outperformed in this event, capturing two wins (Rekindling in 2017, Twilight Payment in 2020) and his horses place 50% of the time over two decades. 10 Which Jockeys Have Fared Well at the Melbourne Cup?

Examining jockey records at Flemington is equally vital. Mark Zahra, for example, steered 'Without A Fight' to win last year, his second win out of six tries, and has managed two more top finishes since 2004.

Kerrin McEvoy has claimed two wins in the last 20 Melbourne Cup outings (Almandin in 2016 and Cross Counter in 2018) and secured seven more top placements, flaunting a 52.94% success rate. Review trainer-jockey partnerships before the 2024 Melbourne Cup, as certain combos might prove more potent than others.

A prime Melbourne Cup betting tip involves reviewing Flemington's track conditions come November. Ay the past ten races, only 2018 and 2019 saw softer conditions, while the rest were run on good tracks.

Thus, review participants' performance under specific track types before wagering. Ante-post favorite Calandagan has only won once on favorable tracks in his three career wins, compared to Giavellotto’s triumph under the same conditions in Yorkshire’s G2 Boodles Cup.

Understand Track Conditions

With all this information, you're poised to make your first online bet for the Melbourne Cup! But first, you must grasp how to bet on the event, as there are various methods to choose from.

Betsquare has rigorously reviewed and ranked the finest online betting sites in Australia.

Where to Bet on the Melbourne Cup

Among top contenders are Crownplay and Bet and Play, with international giants Play Up, Unibet, and bet365 also extending their horse racing markets to include Aussie customers. where Benefits of Online Betting for the Melbourne Cup

Beyond offering a wider range of odds and betting lines, online betting platforms also provide myriad advantages. But which of these truly stand out? One key perk of online betting is the convenience it affords. Not only can you instantly compare odds across various bookmakers, but you can place bets swiftly with just a few clicks.

You can also place in-person bets on the Melbourne Cup. There are several physical bookmakers located around the Flemington course, although they don’t offer the same variety of odds as online sportsbooks. You can also wager at TAB locations, which belong to Australia’s Totalisator Agency Board and operate both on and offline.

A burgeoning feature is integrating live streaming with betting. Unibet, for example, offers live streams of up to 40,000 events yearly, including big races like the Melbourne Cup, empowering you to wager and make informed choices on race day.

New customer incentives often include free bet deals and promotions. These bonuses, whether through free bets or deposit matches, are particularly plentiful during the Melbourne Cup. Melbourne Cup Betting Promotions and Bonuses

• Enjoy Greater Convenience: As you’d expect, various Melbourne Cup offers cater to both new and returning bettors, each taking on unique formats. Here's a quick look at the most favored bonuses you might encounter! huge A deposit-based free bet, requiring a certain amount to be wagered at minimum odds, to be used within a specific timeframe. regardless of your physical location.

• A bookmaker may match your first deposit up to a certain cap, with reload bonuses applying to future deposits. Generally, this includes heftier wagering activities. Enhanced or guaranteed odds on select events like the Melbourne Cup can amplify your winnings across several markets.

• Access Free Bets and Promotions: This is your ultimate guide to betting on the Melbourne Cup. As the most illustrious and culturally significant race in Australia, it draws participation from globally acclaimed runners, riders, and trainers.

Betsquare’s Ultimate Guide to Melbourne Cup Betting

The Melbourne Cup stands as a symbol of Australian culture and is its most revered horse race. But what are the crowd-favorites when it comes to betting, and what strategies do punters usually deploy?

Free Bet Offers	With the 2024 Melbourne Cup marking the 164th running of this celebrated event, it remains Australia’s premier horse racing spectacle. In 2023, the race captivated 1.68 million viewers, marking a 12% rise from the previous year’s 1.5 million spectators.
Deposit Matches	Given its allure and widespread popularity, the Melbourne Cup is a hotbed for betting activities in Australia. But how exactly should one navigate the world of wagering, and how does one place bets online for the upcoming event?
Enhanced or Guaranteed Odds	Our guide will break down these nuances while also highlighting the array of free bet offers and promotions that are synonymous with the Melbourne Cup experience.

Final Thoughts

This race isn’t just any Thoroughbred contest; it's held every year at Flemington Racecourse and ranks as the world’s richest handicap run over two miles, with a staggering $8.41 million prize purse in 2023.

Known colloquially as 'the race that stops a nation,' the Melbourne Cup dates back to 1861, embedding itself into Melbourne’s and Australia’s cultural fabric. The inaugural event saw 17 horses vie for 710 gold sovereigns (£710).

One of the few grand handicap races globally, the Melbourne Cup significantly influences Victoria's economy by generating jobs and boosting tourism and retail spending.

FAQs

Before delving deeper into the analytical aspects of this race, let's explore the steps to placing your bets online for the Melbourne Cup 2024. Let’s get into it!

Not every sportsbook offers the same odds or betting options for the Melbourne Cup. Distinctions are aplenty, so it’s pivotal to compare via

our extensive reviews to spot your prime wagering site.

Begin with registering on the sportsbook of your choice. This process will require personal details—name, birthdate, and address—and securing your account with a verified email, unique username, and strong password.

Once you've been verified, make your first deposit. Ensure it meets the site’s minimum requirements and aligns with any bonus conditions. Also, use eligible payment methods.

Now, you're set for Melbourne Cup betting! Navigate to your chosen sportsbook's market, analyze the odds, and craft your bet slip.

As noted earlier, there’s a diverse range of Melbourne Cup betting options out there. While some bets are perennial favorites, others appeal to seasoned bettors looking for an edge. Here’s a rundown of the most prevalent types!